Panicos Demetriades, former Cyprus central bank governor and professor of financial economics at the University of Leicester, discusses the country's economy and its reform plans, ahead of the first ECB meeting of 2015.

The European Central Bank could announce a quantitative easing programme that's based on paid-in capital by central banks, a source told CNBC. Annette Weisbach talks to Harris Georgiades, Cyprus' financial minister, about this issue and the country's recovery.